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First Quarter Dividend PITTSBURGH--March 13, 1998--
The Board of Directors of Alcoa today declared a quarterly common stock
dividend of 37.5 cents per share that is payable May 25, 1998 to
shareholders of record at the close of business on May 8, 1998.
The directors also voted a regular dividend of 93.75 cents per share on
Alcoa's $3.75 cumulative preferred stock, payable July 1, 1998 to
shareholders of record on June 12, 1998.
Under Alcoa's common stock dividend policy, the company pays a base quarterly dividend, currently 25 cents per share, and a bonus dividend linked directly to financial performance. The bonus dividend is 30% of earnings over $3.00 per share in a calendar year. Earnings per share for 1997 were $4.66.
The bonus dividend of 50 cents per share will be paid in four equal quarterly installments of 12.5 cents per share during 1998. The payment and record dates are the same as for base quarterly dividends.